Lena Instruments, in partnership with Flare Network, has announced the launch of a new crowdfunding platform labeled “CloudFunding.”
Lena Instruments is a blockchain and software firm based in Switzerland. Flare is a new blockchain that claims to have the first consensus protocol for external data.
The CloudFunding launchpad aims to bring a new dimension to the concept of crowdfunding, with investors gaining access to crypto projects while retaining custody of their principal investment.
According to a release, CloudFunding contributions come from the rewards earned by users’ Flare (FLR) or Songbird (SGB) capital.
Laura Moreby, the Head of Communications for Lena Instruments, explained that Lena is a major token holder in Flare and is thus committed to its long term success:
“It is only natural for Lena to utilize its know-how and engineering talent to design new products and contribute to the development of Flare.”
She said that CloudFunding is one of many projects that Lena will be releasing on Flare and Songbird to improve access to this “exceptional layer 1.”
“We want to thank our partner, Flare Networks, for their trust in our team. We promise to continue delivering smart, fun, and user-friendly products to accompany Flare on its journey to success.”
“CloudFunding is a perfect example of how developers can take advantage of the decentralized data infrastructure built natively into the Flare blockchain,” stated Hugo Philion, CEO and Co-Founder of Flare Network.
Hugo added that Flare Network recognizes the value of crowdfunding technology in the blockchain space and they are excited that Lena Instruments has chosen Flare and Songbird to build its CloudFunding launchpad.